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Customs valuation may set two more valuation ruling prices in Dec 20-21 meeting

Customs valuation may set two more valuation ruling prices in Dec 20-21 meeting

KARACHI: Director General Customs Valuation Surriya Ahmed Butt called a meeting of some importers on December 20 and 21. It is possible that two more valuation ruling prices will be set in this meeting.

Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 765/2015 on January 16, 2018, it is learnt.

Director General Surriya Butt has said that the department is reviewing suggestions from importers to set new prices of furnishing fabrics. She said that some valuations, which were issued in 2015, were being reviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in the international market.

Sources told CT that a petition was filed by the importers in the Customs Valuation in which change in prices of furnishing fabrics was requested.

Sources said the Valuation Ruling No: 765/2015 was issued on October 9, 2015. A meeting was held with the stakeholders on December 14, 2017.

Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.

Sources said nowadays Director General Surriya Ahmed Butt continues meeting with the importers because a number of applications have been submitted from importers to change the prices of import items.